Articles by Deepak Agrawal

Tax Residency Certificate

Posted by Deepak Agrawal 01 June 2013 286416 Views

Significance of Tax Residency Certificate (TRC) for claiming benefit provided under DTAA: Section 90 of the Income Tax Act empowers the Central Government to enter into an agreement with the Government of any foreign country or specified territory

Increasing rate of MAT, Reducing the MAT Credit

Posted by Deepak Agrawal 23 April 2013 72222 Views

In the Finance Bill, 2000, the government introduced the new provision u/s. 115JB: The extract of the same from the memorandum to finance bill was as under: The new provisions provide t

Sec. 54F:Judicial Analysis-Investment in more than one units

Posted by Deepak Agrawal 22 April 2013 34192 Views

Judicial Position on Exemption u/s. 54F where investment is made in more than one Residential House Property units/adjacent flats/more than one unit on different floors: 1. Section 54F is reproduced as under: Section 54F provides that-

Requirement of PAN by Non-Residents & Tax Consequences

Posted by Deepak Agrawal 01 April 2013 62638 Views

NOTE ON REQUIREMENT OF PAN BY NON-RESIDENTS IN INDIA AND TAX CONSEQUENCES: The analysis of the requirement of PAN is made on the basis of following cases: I. Non resident is exempt from tax in India: II. Non resident is liable to ta

Taxability for concession in school fees or scholarship

Posted by Deepak Agrawal 22 February 2013 42576 Views

NOTE ON PERQUISITE TAXABILITY FOR CONCESSION IN SCHOOL FEES OR SCHOLARSHIP GIVEN BY THE EMPLOYER TO THE CHILD OF EMPLOYEE: 1. Taxability of Perquisites: As per section 17(2) (iv), Perquisite includes, any sum paid by the employer i

Section 80CCG - Rajiv Gandhi Equity Savings Scheme

Posted by Deepak Agrawal 25 January 2013 46181 Views

Finance Act, 2012 has inserted section 80CCG in the Income Tax Act, 1961 (the Act) with effect from Assessment Year 2013-14 (Current Financial Year 2012-13) to encourage new investors in the equity market. The details of the

Applicability of sec. 9(1)(vii) on Offshore Supply Contract

Posted by Deepak Agrawal 19 January 2013 11522 Views

XYZ is engaged in the business of real state development. In the normal course of business, it imports the various high quality equipment's and goods from outside India. Whether the title and ownership of the goods exported by exporter outside India,

Note on deduction u/s. 80HH to 80TT and Limit u/s. 80AB

Posted by Deepak Agrawal 08 January 2013 35138 Views

Note on Allowability of deduction u/s. 80HH to 80TT of the Act to the extent of Gross Total Income in light of provision of section 80AB and determined Judicial Pronouncements: 1.1 Section 80AB of the Act: Deductions to be made with re